PGov - Delegate Communication Thread

🏛 Token House Governance Delegate Updates
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Delegate Name: @PGov
Delegate Address: PGov.eth (0x3fb19771947072629c8eee7995a2ef23b72d4c8a)
Forum Handle: @PGov, @Juanbug_PGov
Email: PGovTeam@gmail.com

Core Principles:

  • Transparency: Clear communication with votes and explanations of reasoning
  • Growth: We see great potential for Optimism and look forward to helping the chain grow as much as possible
  • Real-World Use Cases: We see great use cases in the future for RWA and web2/web3 connecting and look forward to seeing where the RWA uses cases will go

Delegate Statement:

We’re a team of dedicated governance enthusiasts who have been in the crypto governance space for almost two years now! Optimism is uniquely positioned and has some of the most unique governance initiatives we’ve seen across all of defi!

Our primary goal is to use the knowledge we have learned in the past few years to help grow OP and its community. We’ve been keeping track of OP since day one and are excited to be here for the ride!

Conflicts of Interest & Resolution:

  • Abstain from the vote if a situation arises a conflict of interest, and clearly state on forums the conflict.
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Protocol Delegation Renewal Program

We voted FOR: The first trial of this worked well for protocols in our opinion and are confident his renewal will work just as well if not better after removing some of the kinks and improving policies. Overall, we love the concept of some of the largest protocols getting involved in governance on the chain that they are deployed on and encourage more teams to do similar.

Intent 1: Budget Proposal
Intent 2: Budget Proposal
Intent 3: Budget Proposal
Intent 4: Budget Proposal

We voted FOR: Voting in support of all four budget proposals for the respective intents. This is a great experiment for season 4 in our opinion and we’re looking forward to seeing how these play out. Overall, we’re super interested to see what develops with Intent 1: “Progress Towards Technical Decentralization.”

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Inflation Adjustment Proposal

We voted FOR: This is great from current token holders’ perspectives and makes sense. Given the distribution and allocation (or more like “un-allocation”) of the current OP, there’s no reason to inflate the total supply by 2% for now. We are happy to reevaluate this in the future.

Treasury Appropriation (Foundation Year 2 Budget Approval)

We voted FOR: Happy to see this symbolic budget request as a way of realizing the team doesn’t need more OP in the current state. Happy to see operation expenses were relatively low for this first year, however, we do think more can be done towards the decentralization of the protocol as a significantly less amount of what was projected to be airdropped has happened.

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Council Reviewer Elections: Builders Grants

We voted Gonna.eth, Jack Anorak, Krzysztof Urbanski (kaereste or krst): Excited to see some of these newer faces getting involved and think that these 3 is the best group to lead this particular grant committee.

Council Reviewer Elections: Growth Experiments Grants

We voted Katie Garcia, Sugma.eth, GFX, StableLab, Michael Vander Meiden: Being mostly from the last season, we think this team did a great job and are well suited to do great work again this season. A notable addition is StableLab as we have worked with the team extensively in the past and believe they are well positioned to do great work on this committee.

Note: For this first round of votes, we are unable to vote with delegated voting power and so these are just our verbal support for now. This will change with future votes.

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Mission Proposals Delegate Approvals

It’s been very interesting reading the mission proposals that have been debated in the forums. We just submitted approvals for what we think were three of the strongest proposals:

Thanks to all the teams for their hard work and proposal submissions!

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If this is post voting a postmortem is not helpful. A discussion before voting will give immense clarity to OP holders who have delegated votes.

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If this is post voting a postmortem is not helpful. A discussion before voting will give immense clarity to OP holders who have delegated votes.

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Intent $1, 1M OP

We voted Proposal 1A, 1B, 1C, 1D, 1E: We voted for all of the options except 1F. These all seem logical and make sense to us to try out and are well within our budget. Although there is ample “budget” for all, we think Spearbit is well enough funded internally to help produce the audit on their own and the 100k OP is not justified, maybe a smaller amount would have been better.

Intent #3, 1M OP

We voted Proposal 3A, 3B, 3C, 3D, 3E, 3F, 3G, 3H, 3I, 3J, 3K: We voted for all of the mission proposals in Intent 3. This being that all of the larger budget items we thought were fully fledged out and well documented for next steps and milestones. A few of the other ones that we were a little iffy on were frankly not much funding and we believe could be useful and helpful going into the future with a high possibility of “happily” surprising the community in the future.

Intent #4, 3M OP

We voted Proposal 4A, 4B, 4C, 4D, 4E, 4F, 4I, 4J, 4K, 4L, 4M: We voted for all the options except 4G, 4H, and 4N as they were well written, provided a lot of perceived and future value to the ecosystem and didn’t find any big concerns. With respect to 4G, for 125k OP the co-design of gas fees is quite steep. Similar to the 67.5k OP requested by DAOStar in respect to the work done. Finally, we chose not to vote for 4N as we thought the outline was a bit too vague and we didn’t see the dollar cost benefit.

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Intent 2 Budget Proposal 2

We voted FOR: We are confident in the intents that have recently been voted upon and believe this budget diversion is appropriate. We were one of the delegates to approve the forum post to a formal vote and are in approval of the proposal.

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Ratify Developer Advisory Board Members & Developer Advisory Board Budget

We voted FOR & FOR: This council has a limited budget and very defined value added to the ecosystem. We are in favor of the initial members are appropriate and the relatively low overall initial budget.

Grants Council Operating Budget

We voted FOR: An easy yes for us; the grants council proposed by Lund Ventures is appropriate and the budget is lean for this season. The last new seasons of the budget council have done a great job and we believe this will continue.

Security Council: Vote #1

We voted FOR: We are in favor of the security council and would be in favor of more individuals being added on in the future. This team will have very tangible value add to the overall security of the Optimism network.

Code of Conduct Council Budget & Code of Conduct Violation: Carlos Melgar

We voted FOR & ABSTAIN: We are abstaining on the possible code of conduct violation of Carlos Melgar and heeding future decisions in the regard in favor of the code of conduct council that will be eventually formed.

Anticapture Commission

We voted FOR: We are excited and glad to have qualified for this commission and would love to opt-in. We’re interested in the future to dos and how we can help the committee run well into the future.

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Code of Conduct Council: Member Nominations

We voted Oxytocin, Axel_T, Juanbug_PGov: For the first iteration of the Code of Conduct council, in addition to ourselves, we voted for Oxytocin who’s prevalence at other DAOs and OP should be good to have a high level objective review of situations that arise, as well as Axel_T who’s financial skills should be beneficial for the DAO as a whole.

Ratification of Law of Chains

We voted FOR: This new vote that most notably allows governance to whitelist new sequencers is an important step to decentralize the chain further.

Season 5 Intent Budgets

We voted FOR: We are in favor of the intent system after last season and these budgets seem appropriate for the upcoming season. We’re excited to see what new things and proposals happen this season!

Grants Council Reviewer Elections: Builders

We voted Jack Anorak, Gonna.eth, Mastermojo, Ethernaut, Joxes: This selection of votes was a combination of confident revotes from last season’s council and new opportunities for prospective new members looking to make their mark on this season! We were tasked with more than 5 qualified options but thought these were the top 5 options that appealed to us the most.

Chain Delegation Program

We voted FOR: We think the increase from 5 million is necessary to encourage more and more teams to come over and join the ecosystem. We would personally be in favor of even more OP delegated for this program eventually.

Grants Council Reviewer Elections: Growth Experiments

We voted Michael Vander Meiden, Katie Garcia, MoneyManDoug, GFX, Matt: We are incredibly content and happy with these committee members from last season and therefore we recommend and are voting for the council to return again for next season.

Grants Council Reviewer Elections: Milestones and Metrics

We voted FOR Juanbug_PGov, v3naru_Curia, LauNaMu: We are voting for these three runners for the Miles and Metrics council. We have made the mistake of selecting only Juanbug_PGov on the on-chain vote and mean to vote for v3naru_Curia & LauNaMu as well. If this disqualifies our current vote and the manual adding of support to these two individuals is not possible, we understand as well.

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Ratify Security Council Members

We voted FOR: This is an excellent council of members and we’re lucky have such experienced talent. Some questions regarding some well known entities and whether individual members or entities are the council member still arise that we would like to be sorted out, but the proposal as a whole we are still in support.

Upgrade #2: Canyon Protocol Upgrade

We voted FOR: We are looking forward to this second upgrade after Bedrock and having Shapella upgrades reflect on Optimism. Kudos to the whole dev team for their hard work.

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Proposal to Reclassify Grant Misusage Enforcement

We voted FOR: We believe this is the most logical thing to do moving forward with the new Code of Conduct Council being elected recently.

Upgrade Proposal #3: Delta Network Upgrade

We voted FOR: We’re excited to see the technical work behind this upgrade and thank the teams for all of their due diligence.

Summary of Code of Conduct enforcement decisions

We are In Support: No objections to these decisions.

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Mission Requests: Intent #1, 1.33M OP

We voted Proposal 1A, 1B, 1C, 1D, 1E. 1F: We voted for all of the proposals in intent 1 as we believe they all can make substantial improvements to Optimism and combined, are less than the total budget for this intent.

Mission Requests: Intent #2, 4M OP

We voted Proposal 2A, 2B, 2C, 2D, 2E, 2F, 2G, 2I, 2J, 2L, 2M, 2N: We think there are a lot of great proposals here with this intent. We are voting on every proposal except for 2 as we see substantial value add for each of these. Namely, 2H and 2K we think aren’t as fleshed out currently but would like to see it revisited in the future.

Mission Requests: Intent #3, 1.33M OP

We voted Proposal 3A, 3B, 3C, 3E, 3F, 3K, 3L: These specific proposals are in our opinions the most value add, especially given the rather limited budget for the amount of proposals in this intent. It’s a little concerning as there’s only a couple days left and with the split voting, many of these are quite far away from getting to quorum.

Mission Requests: Intent #4, 1.33M OP

We voted Proposal 4B, 4C, 4F, 4I, 4J: We believe these specific proposals are the most value additive to this intent and combined fit into the total budget nicely. Some proposals such as 4D: creating videos need a little more work and can see the value added in future seasons.

Protocol Upgrade #4

We voted FOR: We look forward to this increased security going forward and thank the Labs team for their work on shipping this out.

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Proposal Upgrade #5
Proposal Upgrade #6

We voted FOR: As with prior upgrades, we voted for in both of these two proposed protocol upgrades. We look forward to the increased efficiency and security of the network and superchain as we get ready for Dencun upgrade!

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Season 5 : Intents Budget Proposal #2

We voted FOR: Re-allocating the 1,040,000 OP from the Gov Fund to support Mission Requests that had strong demand rather than returning that OP to the Gov Fund makes sense. The grants council is simply using funds that were already approved for more high value grants and mission requests.

Governor Upgrade #1: Improve advanced delegation voting

We voted FOR: This improved advanced delegation voting is great for ease and simplicity of voting and we thank the Agora team for their hard work as always in getting this up and running!